THE CORPORATION OF THE CITY OF PORT. COoUTILAM NOV 30 {992
BYLAW.NO. 2736

A, Bylaw to authorize the acquisition of a
foreshore lease and the sublease of the property.

WHEREAS Section 322 of the Municipal Act, RSBC 1979, c. 290 authorizes Council, by
Bylaw, to enter into a lease for the acquisition of real property and associated personal property;

AND WHEREAS Council wishes to acquire a foreshore lease (the "Lease") of a portion of the
bed and foreshor~ of the Pitt River (che 'Foreshore") by way of an assignment of the lease (the
"Assignment Agreement") from Itaru Shimizu (which Lease is attached as Schedule "A" to the
Assignment Agreement which is attached as Schedule "A" to this Bylaw);

AND WHEREAS Section 542 of the Municipal Act, RSBC 1979, c. 290 authorizes Council, by
Bylaw, to lease any real property held by the City;

AND WHEREAS the City wishes to sublease the Foreshore to Harken Towing Co, Ltd. by way
of a sublease agreement (the "Sublease”) in the form attached to this Bylaw as Schedule "B";

AND WHEREAS the City has posted a Notice of Intention to sublease the Foreshore, in
compliance with Section 538 of the Muncipal Act;

AND WHEREAS the Fraser River Harbour Commission has consented to both the assignment

of the Lease to the City and the City’s sublease to Harken Towing Co. Ltd.;

NOW THEREFORE the Municipal Council of The Corporation of the City of Port Coquitlam, in
open meeting assembled, hereby enacts as follows:

1, The Corporation is hereby authorized and empowered to lease the Foreshore by entering
into an assignment agreernent with Itaru Shimizu in substantially the same form as the
Assignment Agreement attached as Schedule "A" and the Mayor and Clerk are authorized
to execute, seal, and deliver the Assignment Agreement and all other documents necessary

to acquire the Lease.

The Corporation is authorized to sublease the Foreshore to Harken Towing Co. Lid. by
entering into a sublease agreement in substantially the same form as the Sublease which is
attached as Schedule "B" and the Mayor and Clerk are authorized to execute, seal and
deliver the Sublease and all other documents necessary to sublease the Foreshore.

FINAL READING

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